Bernanke's idea for the day
When I set rates up?
USD grows more powerful within the Euro, petro-dollar lovin' OPEC happy, oil price falls, unemployment rises, short term credit astrophe, fat bonuses cut at banks, clears out the unsuccessful companies, Bush will hate me, Democrats will be left with a mess when they come in power, danger of US being bought out by a Chinese SWF, wage inflation, my 3 homes fall in value, savings ratios turned into optimistic, MBNA miserable, my fellow economists grant me a Nobel Prize.
If I set rates down?
USD collapses, OPEC goes mad, oil prices increase, my set of gold coins drop in value, short term credit crisis eased, subprime goes off, lots of presents from my mates in Goldman Co, will last the Greenspan Set heritage (so will keep blaming him), US turns into Japan circa 1980, equity markets happy, bond markets collapse, MA deals move thru, Private Equity punters pleased, money supply grows, budget deficit worsens, Okun's law kicks in, I get a rewarding job in a leading Investment Bank.
If I do nothing?
I lose my job for looking weak and ineffectual.